IAC/InterActiveCorp [NASDAQ: IAC] gained 14.10% on the last trading session, reaching $183.73 price per share at the time. The company report on December 22, 2020 that IAC Announces Plan to Spin-Off Vimeo to IAC Shareholders.
IAC (NASDAQ: IAC) announced its Board of Directors has approved a plan to spin-off its full stake in Vimeo, the world’s leading video software company, to IAC shareholders. Upon completion, Vimeo will become an independent, separately-traded public company, the 11th such company to emerge from IAC and its predecessors. IAC plans to hold a stockholder meeting in the first quarter of 2021 to review and approve a proposal to implement the spin-off, which, if approved, is expected to occur in the second quarter of 2021.
The transaction is anticipated to take the form of a reclassification of IAC shares, with the effect of IAC stockholders receiving a proportionate amount of Vimeo stock. The proposed transaction is intended to qualify as tax-free to IAC and its stockholders for US federal income tax purposes. Further details will be provided in a registration statement on Form S-4 relating to the transaction, which IAC and the new Vimeo holding company will soon file with the Securities and Exchange Commission.
IAC/InterActiveCorp represents 85.30 million in outstanding shares, while the company has a total market value of $15.30 billion with the latest information. IAC stock price has been found in the range of $171.639 to $187.78.
If compared to the average trading volume of 677.70K shares, IAC reached a trading volume of 1619338 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about IAC/InterActiveCorp [IAC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IAC shares is $166.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IAC stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for IAC/InterActiveCorp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 25, 2020. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Overweight. The new note on the price target was released on September 15, 2020, representing the official price target for IAC/InterActiveCorp stock. Previously, the target price had yet another raise from $168 to $170, while Wedbush kept a Outperform rating on IAC stock.
The Average True Range (ATR) for IAC/InterActiveCorp is set at 6.33, with the Price to Sales ratio for IAC stock in the period of the last 12 months amounting to 4.48. The Price to Book ratio for the last quarter was 2.53, with the Price to Cash per share for the same quarter was set at 45.90. Price to Free Cash Flow for IAC in the course of the last twelve months was 48.96 with Quick ratio for the last quarter at 5.40.
Trading performance analysis for IAC stock
IAC/InterActiveCorp [IAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.28. With this latest performance, IAC shares gained by 33.27% in over the last four-week period, additionally plugging by 113.06% over the last 6 months – not to mention a rise of 162.26% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IAC stock in for the last two-week period is set at 82.41, with the RSI for the last a single of trading hit 86.76, and the three-weeks RSI is set at 78.27 for IAC/InterActiveCorp [IAC]. The present Moving Average for the last 50 days of trading for this stock 137.55, while it was recorded at 165.28 for the last single week of trading.
IAC/InterActiveCorp [IAC]: A deeper dive into fundamental analysis
IAC/InterActiveCorp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.40.
IAC/InterActiveCorp [IAC]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, IAC/InterActiveCorp posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 1.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -93.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IAC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for IAC/InterActiveCorp go to 37.69%.
An analysis of insider ownership at IAC/InterActiveCorp [IAC]
There are presently around $12,965 million, or 91.20% of IAC stock, in the hands of institutional investors. The top three institutional holders of IAC stocks are: VANGUARD GROUP INC with ownership of 6,927,195, which is approximately New of the company’s market cap and around 5.00% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 5,483,761 shares of the stock with an approximate value of $1.01 billion in IAC stocks shares; and BLACKROCK INC., currently with $832.55 million in IAC stock with ownership of nearly New of the company’s market capitalization.
453 institutional holders increased their position in IAC/InterActiveCorp [NASDAQ:IAC] by around 67,231,557 shares. Additionally, 3 investors decreased positions by around 254,477 shares, while 1 investors held positions by with 3,080,576 shares. The mentioned changes placed institutional holdings at 70,566,610 shares, according to the latest SEC report filing. IAC stock had 449 new institutional investments in for a total of 66,757,663 shares, while 2 institutional investors sold positions of 89,009 shares during the same period.